News: Continental Coal sees Vanmag transaction go, page-15

re: News: Continental Coal sees Vanmag transa... Executive Chairman: Peter Landau Executive Director: Andy Macaulay Executive Director: Bruce Buthelezi
25 September 2009
The Manager
Company Announcements
Australian Securities Exchange
Exchange Plaza
2 The Esplanade
PERTH WA 6000
Via E Lodgement
Company Update

Sale of Vanmag Interest
As previously announced, Continental has entered into a sales agreement in respect of the disposal of its
interest in the Vanmag Iron Ore Project in South Africa for US$10m.
The US$1m deposit has now gone non refundable, with settlement scheduled to occur during October
2009 following the issuing of the new order mining right (the project had an old order mining right which
was submitted for conversion in April this year).
With strong Indian demand for export coal and South African local power demand also strengthening, all
of Continental’s projects are strategically very well placed to capitalise on short and medium term
production.
Further updates will be provided shortly.
For and on behalf of the Board